My First Home Rental Unit. Learning

[Eric Muzyka]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $140,000

This home was my first home I purchased. I have moved out into a second home with the wife, and decided to keep and rent out the first. The Property gained roughly 15% value after the first year as the market skyrocketed.

What made you interested in investing in this type of deal?

I am looking to make long term income, and gain equity through others.

How did you finance this deal?

This home is currently mortgaged through QuickenLoans. 30yr / 3.625%. I did make a minimum down payment, however the PMI was already removed as the home value rose above the 22% Equity QL requires in the first year.